Amendment to Illinois Mechanics Lien Act Authorizes Bonding Over of Mechanics Liens Claims
As of January 1, 2016, an amendment to the Illinois Mechanics Lien Act, 770 ILCS. 60/38.1, allows parties with an interest in real estate to substitute an eligible surety bond for a claim for mechanics lien as security for real estate. The law will change the way many construction projects are handled in Illinois. Read the article…………..